Payments & Settlements

Sustainable Finance

UBS, StanChart, BNP Sign On to Join VCM Initiative

By Editors | 16/02/2022

The initiative, now known as Carbonplace, will seek to develop infrastructure to facilitate reliable, secure, and scalable trading of high-integrity carbon credits.

Payments & Settlements

StanChart HK Becomes Direct Participant of China’s CIPS

By Editors | 16/02/2022

Standard Chartered Hong Kong is the first foreign bank qualified as a direct participant of China’s Cross-border Interbank Payment System in the offshore market.

Trading & Investment

RBI Allows Banks to Deal in Foreign Currency Settled OIS

By Editors | 15/02/2022

AD Cat-I banks are eligible to offer foreign currency settled overnight indexed swaps to persons not resident in India as well as to other AD Cat-I banks.

Trading & Investment

PBOC Issues New Bond Lending Rules for Interbank Market

By Editors | 14/02/2022

Financial institutions and foreign banks participating in the bond lending system must sign a master agreement, which NAFMII is tasked with developing.

Payments & Settlements

Capital Controls Slowing Down Cross-Border Payments: CPMI

By Sanday Chongo Kabange | 13/02/2022

Using SWIFT gpi datasets, CPMI identified capital controls, longer bank offline hours, and batch processing as factors that slow down cross-border payments.

Clearing & Post-Trade

HK Clearinghouses Ask Participants to Review Operational Procedures

By Sanday Chongo Kabange | 13/02/2022

Participants are warned that failure to adhere to the settlement timelines stipulated by the clearinghouses would constitute an event of default, which could result in disciplinary actions.

Fraud, Scams & Cybercrime

ASIC Facing Resistance from Banks on Anti-Scam Measures – Report

By Editors | 09/02/2022

ASIC reportedly decided against including scam prevention as part of its ePayments Code review as a result of “fierce pushback” from major banks.

CBDCs

China Showcases CBDC at Beijing Winter Olympics

By Sanday Chongo Kabange | 08/02/2022

Observers say China’s “zero Covid policy” has limited its ability to showcase the e-CNY to a wider population.

Trading & Investment

BOT Encourages FIs to Adhere to FX Global Code

By Sanday Chongo Kabange | 07/02/2022

From 2025 onwards, adherence to the Code will become a prerequisite for the BOT’s foreign exchange counterparties.